PETACH-TIKVA, ISRAEL – Eltek reported third quarter revenues were $9.3 million, up 9.4% year-over-year.

Net profit was $391,000, compared to a net loss of $463,000 in the third quarter of 2018. Operating profit was $568,000, compared to an operating loss of $307,000 in the same period last year.

"We are pleased with our growth in revenues and profitability in the third quarter's results,” said CEO Eli Yaffe. “The improved results are a consequence of the implementation of our previously announced turnaround plan."

Net cash provided by operating activities amounted to $1.4 million in the third quarter, compared to net cash provided by operating activities of $164,000 in the same quarter last year.

Revenues for the first nine months of 2019 were $26.2 million, nearly flat with the same period in 2018. Net profit was $1.4 million, compared to a net loss of $2 million in the first nine months of 2018. Operating profit was $1 million, compared to an operating loss of $1.7 million last year.

For the nine-month period, net cash provided by operating activities amounted to $2.7 million, compared to $950,000 in the same period last year.

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